Transcontinental Inc.'s Media Sector, TC Media, announces the sale of 12 of its publications, as well as their related web properties, to Groupe Lexis Média inc., a company owned by Mr. Elie Akoury and Mr. Frédéric Couture, who will act as President. In total, 75 employees of these various publications and 16 employees from TC Media's Production team are transferred to Groupe Lexis Média inc. TC Transcontinental also concluded a multi-year agreement for the printing and distribution of all of these titles as well as for the printing of the magazines already owned by Lexis Média inc. With the completion of this transaction, 60% of the publications included in the sale process of TC Media's local and regional newspapers in Québec and Ontario, launched in April 2017, are now in the hands of local owners. The newspapers sold to Groupe Lexis Média inc. are: Le Citoyen Rouyn-Noranda, Le Citoyen de la Vallée-de-l'Or, L'Écho Abitibien and La Frontière, distributed in Abitibi-Témiscamingue; L'Action D'Autray, L'Action – Wednesday Edition, L'Action – Weekend Edition, L'Express Montcalm and Hebdo Rive-Nord, in Lanaudière; Le Bulletin, La Petite-Nation and La Revue, in Outaouais. Click Read More below for additional information.

Coveris Americas is one of the top ten converters of flexible packaging and other value-added products in North America based on revenues for its fiscal year ended December 31, 2017. Headquartered in Chicago, Illinois, Coveris Americas manufactures a variety of flexible plastic and paper products, including rollstock, bags and pouches, coextruded films, shrink films, coated substrates and labels. As of December 31, 2017, Coveris Americas operated 21 production facilities worldwide, namely in the Americas, the United Kingdom and Australasia. Coveris Americas has over 3,100 employees, the majority of whom are located in the Americas. For its fiscal year ended December 31, 2017, Coveris Americas generated US$966 million in revenues and US$128 million in Adjusted EBITDA. "Today’s announcement marks a turning point in TC Transcontinental’s 42-year history. This transaction crystallizes our strategic shift toward flexible packaging and solidifies our commitment to profitable growth," said Isabelle Marcoux, Chair of the Board of Transcontinental Inc. "We are convinced that this transformational acquisition will be a driver in the creation of long-term value for all of our stakeholders. It is with pride that we begin the next chapter of our successful journey with Coveris Americas, its employees and customers, building on our values of respect, teamwork, performance and innovation." Click Read More below for additional information.

Arandell Holdings, Inc. announced that it has finalized an agreement approved by the U.S. Bankruptcy Court for the District of Delaware that calls for Saothair Capital Partners to invest in the business, clearing the way for emergence from Chapter 11 of the U.S. Bankruptcy Code. “Saothair’s investment is a testament to the overall strength of our business model and market position,” said Brad Hoffman, President and CEO of Arandell. “We’re excited to complete the process and move forward as a company, continuing our recent growth into 2021 and beyond.” Under the agreement, an affiliate of Saothair, a private equity firm based in the Philadelphia area, will become the controlling shareholder of the Company’s business and assets.